Santander Rio preps bond sale

Santander Rio preps bond sale

Argentina Bonds

Santander Rio is preparing to issue ARS3bn ($193m) in a two-part bond sale in Argentina’s capital markets. The Spanish bank’s Argentine division will print ARS1.5bn in 18-month notes and another ARS1.5bn in three-month notes, a source familiar with the transaction told LatinFinance.Santander Rio’s own brokerage unit will coordinate the transaction, which will likely price before the end of March, the source said. Moody’s gave the proposed bonds a Ba3 rating, saying the "challenging" operating

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